The Great Depression was perhaps the most overrated financial disaster in history. Sure, unemployment was higher than average and people lost money in the stock market. Still, the vast majority of people were unaffected by the Great Depression.
So, this guy should take some Prozac and go to bed.
What a load of codswallop. No depression will be forthcoming.
Nor will we have any economic setbacks unless major nations elect numbskull socialists who destroy our respective economies. And even then, someone like Hillary can do great damage but America’s supertanker economy will keep rolling along.
I think I would go to Singapore or Hong Kong and maybe Switzerland.
They are expensive.
But in a depression, law and order breaks down and Singapore and Hong Kong and Switzerland take law and order very seriously.
They also have state of the art infrastructure and technology and have some level of English proficiency.
I think a life on the Pampas is overrated.
This stock market hiccup has revealed a huge amount of raw selfishness and greed. This guy is quite selfish, too. I don't see him noting the conditions of places where it'll cost him 10 cents on the dollar to pay people for their goods and services. Or why it costs 10-1 here.
Why does there need to be all this intervention to bail the greedy few? Let the market correction do just that.
I keep asking my baby boomer friends: who's going to buy their over-priced stocks when they ask their mutual fund managers for a distribution? Not me, thank you. They have no clue.
So what should you be doing about all this? I suggest you really internationalize yourself. I think what you ought to have is your citizenship in one country, your bank account in another country, your investments in a third, and live in a fourth. You’ve got to internationalize yourself.
Rignt now there is a world-wide production glut of epic proportions. If the bottom falls out, most things will get a lot cheaper (TVs, cameras, etc). Cash will be king. If you’ve got $$ in the bank, you’ll be fine. If you’re living on credit, you’re probably in trouble.
Actually, thinking about it, a Depression might wring a lot of crap out of society that has been building up since 1960.
The sky is falling because he can't get polo ponies cheap any more? Sounds like he's trying to convince us to move to Argentina so he can clean up on real estate down there.
Criminals in the streets. Everyone losing everything. It was as though the world had come to an end.
Was the trouble exaggerated or was there an incredible turn around?
On the other hand, the sun has been coming up in full glory for years now. It is time for it to stop.
Children & minorities hardest hit.
this guy sounds like my tv-moron neighbors.
after 12 hours of tube they are depressed and angry and fearful.
they all say the world is coming to an end.
burp.
This guy makes some interesting statements, although he doesn’t seem to do a very good job explaining himself. My standard of living is about to drop dramatically and I should divest my belongings and money into several different countries? What’s this about WWIII? If there’s a business cycle lasting about 25 years, why should this correction be worse than the corrections in the late 1970s and the 1930s? All he says about Argentina is that it’s cheap to live there and the land is relatively underpopulated. So?
This kind of writer reminds of the guys who used to populate Art Bell’s program - interesting to listen to, sometimes coherent, sometimes loony, almost always spouting dogmatic promises about one thing or another with little actual proof.
Wasn't there a certain, select group of Europeans who migrated there around 1944-1946?
The solutions are so easy.
Keep your wealth in anything but fiat and you will be OK.
BUMP
Leni
bttt